Aspermigas: Indonesia's Upstream Oil and Gas Investment in Crisis

The Oil and Gas Companies Association (Aspermigas) believes that the Indonesian government needs to change the strategy to boost Indonesia's upstream oil and gas investment climate. Aspermigas secretary-general Moshe Rizal revealed that the investment crisis had been happening for the past few years, even though several potential oil and gas work areas remained unexplored. Therefore, fiscal policy reform to create a more investment-friendly contract system is needed.

Moshe believed that the government needed to manage the oil and gas industry like a business. Indonesia should learn from Malaysia and Vietnam that capable of creating a conducive upstream oil and gas investment climate. "We need a marketing strategy and benchmarking with other producing countries, learning how they attract more [oil and gas] investments to their country," Moshe explained to Katadata.co.id on Friday.